Owner Builder

snappy · Jan 10, 2007 5:27 pm

We have just started out on the owner builder side of things and I'm known to jump the gun a bit so I've been looking at costings and budgetting the build before we have even got our owner builder course under our belt let alone the pack (which should be here any day now hopefully) and all I can say

OMG WHERE DO YOU START

Seriously I have downloaded the guide from this site which is fantastic but can I ask if any of you have any good tips including any pitfalls we may come across?

We have to borrow 50% of the money we estimate it will cost us to build and the bank has asked for everything to be split up in small detailed spreadsheet which is a bit daunting as it means a whole lot of work now before we can even get started.

The short cut option of a contract with a builder is looking very appealing at the moment until I get my head round all of this.

Sasha

Dukekamaya · Jan 10, 2007 8:37 pm

I'm doing our place as owner builder - the finance company said they'll just do it as a renovation loan even though we told them it was far more - didn't have to show them any break-up or costings at all :lol:

snappy · Jan 10, 2007 8:40 pm

Luke is yours from scratch or a renovations project?

Sasha

Dukekamaya · Jan 11, 2007 6:19 pm

renovating an exististing house, but to the extent its essentially building a new house
i.e. major structual work, new layout etc.

snappy · Jan 11, 2007 9:06 pm

Maybe if we start the build off using our cash then ask for a reno loan instead....do you think that would work :lol:

You are so lucky not being faced with all the costings the bank is after.

Sasha

parker · May 19, 2007 5:40 pm

snappy

Maybe if we start the build off using our cash then ask for a reno loan instead....do you think that would work

Think council would be the biggest hurdle in that option.

ahuang · Jun 01, 2007 12:11 pm

parker

snappy

Maybe if we start the build off using our cash then ask for a reno loan instead....do you think that would work

Think council would be the biggest hurdle in that option.

Don't think so, Council won't care about your financial arrangement. They care more about the engineering drawing details, neighbour (shadow issues), construction details, environmental impact...etc

Cheers
Allan
http://building-our-first-house.blogspot.com/